Blockchain Opportunities at the FIFA World CupRichard Ogunsola
Modern Football and Blockchain has a lot in common, some of which include:
- Passionate fans and enthusiasts
- Team work and spirit that defies race, colour, border, religion and other differences
- Innovation and Creativity
- Constant and consistent improved Technology
- Reward for passion (Tokenization in the case of blockchain)
The major difference between both is decentralization. Although, Football has not yet achieved decentralization, this a feat Blockchain has conquered. However, worthy of note is the fact that transparency is gradually being incorporated into the beautiful game.
In Russia, where the 2018 World Cup is underway, under the aegis of FIFA, there is an ongoing romantic inter-relationship between football and blockchain. For sports enthusiasts within the cryptocurrency space, this affords them a whole lot of opportunities to combine both their passions.
Cryptocurrency Opportunities at the World Cup
Getting to Russia in the first place has been possible with cryptocurrencies. Cheapair has been accepting Bitcoin as a payment method since 2013, and with flights to Russia available through the airline, people could have easily made their way to the country using the cryptocurrency.
CheapAir became the first travel agency world-wide to accept bitcoin as an alternate form of payment for flights. AbitSky is another online travel agencies that make booking of flights via cryptocurrency easy. Cheapair currently accepts Litecoin, Bitcoin, Dash, Bitcoin Cash while the Destinia and aBitSky only accept Bitcoin.
In February 2014, CheapAir also became the first travel agency world-wide to accept bitcoin as an alternate form of payment for hotels. Tourists and football lovers can book accommodation, enjoy Russian cuisines using cryptocurrencies in the 11 cities and 12 stadiums playing host to 64 matches during the month-long spectacle.
World Cup destination fans have been able to load up debit cards and carry out various financial transactions with cryptos. This has been made easy because in Russia there are 49 Bitcoin ATM locations spread across the country. For soccer fans there will thus be enough places to withdraw their cryptocurrencies into the local currency, the Russian Ruble, should the need arise.
Since 2011, the gambling industry has been growing at least 7% per year, this is evident in the meteoritic growth of Nairabet, Bet9ja and the likes.
Through the CryptoCup Smart Contract, you can earn more money by playing in the blockchain-based betting game built to incentivize football speculators with cryptos. There’s also the option of using your teams to stage Virtual Matches against other team holders. CryptoCup is a new Ethereum blockchain trading game that is based on the 2018 World Cup Football tournament being held in Russia. The game functions on a smart contract that ensures transparency.
Decentralization is a great way to clear up much of the corruption that comes with sports gambling. We have created a fair, honest and transparent betting project. The concept will also be easy to scale to other sporting events, such as the UEFA Champions League, the NFL and the NHL. The World Cup platform is exciting, as we grew up loving the sport and tournament, but it’s also just the tip of the iceberg.
– Martin Nagelberg (CryptoCup engineer)
As usual with this event, more than a billion people will be cheering on their favorite teams while simultaneously making bold predictions and earn themselves a bit of cryptocurrency as well. The goal is to be in the top 10 percent when the tournament ends. In addition to that same token can be bought and sold on a secondary trading market and cash out early should they find someone interested in buying it.
Colombian football star, James Rodriguez the Golden Boot winner at the last World Cup in Brazil (2014). This year, even before the 2018 World Cup kicked off, Rodriguez is the first active football player to launch his own cryptocurrency JR10 Token (the player wears a shirt number 10), the cryptocurrency is in partnership with SelfSell, a fintech startup.
This laudable feat benefit fans as about 8% of the tokens- 160 million of them was given to them at no cost. The pre-sale of 50,000,000 JR10 tokens was sold out in 12 seconds on May 27th. This goes to show how much potential this token has.
JR10 also allows JR extend his influence, build his personal brand and actualize his personal value. The use cases of the JR10 token include buying merchandise, souvenirs and match tickets.
Fraudulent ticket resellers have finally meet their waterloo. Blockchain enthusiasts in Nigeria and in the World can now buy and sell credible match tickets without fear of purchasing counterfeits.
The Aventus Protocol, an open-source platform built on the Ethereum network, is designed to combat counterfeit tickets and ticket scalping/overpricing by allowing event organizers to build decentralized applications that manage the ticketing supply chain. It allows each ticket sold to be immutably linked to a single identity while the event organizers would not loose tickets’ control to racketeers and profiteers.
The Aventus Protocol is tested in its first large-scale application: the sale and tracking of roughly 10,000 tickets to 2018 FIFA World Cup fan events around Europe and the US.
Internet of Things (IoT)
Viewers around the world are not left out of the Blockchain-Football wedlock. As a blockchain TV advert runs during the 2018 World Cup, helping to bring the technology into the living room of millions of spectators. The advert for IoT blockchain business Hdac is broadcast at halftime for all matches shown on ITV and during the highlights on Eurosport. The project is part of the South Korean conglomerate Hyundai.
They are looking to bring blockchain technology to IoT connected devices as shown in the TV advert. For TV viewers not familiar with blockchain technology, it at least makes them aware that things are changing and gradually it will become part of their everyday lives. This would happen just like mobile phones and the internet.